Biotricity Reports Continued Margin Improvement and Reduced Losses in its First Quarter Fiscal Year 2025
Biotricity Inc. (OTCQB:BTCY) reported its Q1 fiscal 2025 results, showing continued margin improvement and reduced losses. Key highlights include:
- Revenue grew 6% YOY to $3.2 million
- Gross margins improved to 73.8% from 63.5% last year
- SG&A reduced by 16% to $3 million
- Operating loss decreased by 51.8% to $1.1 million
- EBITDA and Adjusted EBITDA improved by 18.9% and 49.8% YOY
The company's recurring Technology Fee (SaaS) revenue accounted for over 94% of total revenue with a 76% gross margin. Biotricity continues to focus on increasing sales of remote cardiac monitoring devices and subscription-based services, aiming for profitability and cash-flow break-even.
Biotricity Inc. (OTCQB:BTCY) ha riportato i risultati del primo trimestre fiscale 2025, mostrando un miglioramento continuo dei margini e una riduzione delle perdite. I punti salienti includono:
- Le entrate sono cresciute del 6% su base annua, raggiungendo i 3,2 milioni di dollari
- I margini lordi sono migliorati al 73,8% rispetto al 63,5% dell'anno scorso
- Le spese di SG&A sono diminuite del 16%, arrivando a 3 milioni di dollari
- La perdita operativa è scesa del 51,8%, attestandosi a 1,1 milioni di dollari
- EBITDA e EBITDA rettificato sono migliorati rispettivamente del 18,9% e del 49,8% su base annua
Le entrate ricorrenti derivanti dal Technology Fee (SaaS) dell'azienda hanno rappresentato oltre il 94% del fatturato totale, con un margine lordo del 76%. Biotricity continua a concentrarsi sull'aumento delle vendite di dispositivi per il monitoraggio cardiaco remoto e servizi in abbonamento, puntando alla redditizia e al pareggio di flusso di cassa.
Biotricity Inc. (OTCQB:BTCY) reportó sus resultados del primer trimestre fiscal 2025, mostrando una mejora continua en los márgenes y una reducción de pérdidas. Los aspectos destacados incluyen:
- Los ingresos crecieron un 6% interanual, alcanzando los 3,2 millones de dólares
- Los márgenes brutos mejoraron al 73,8% desde el 63,5% del año pasado
- Los gastos SG&A se redujeron en un 16%, totalizando 3 millones de dólares
- La pérdida operativa disminuyó en un 51,8%, quedando en 1,1 millones de dólares
- EBITDA y EBITDA ajustado mejoraron un 18,9% y un 49,8% interanual
Los ingresos recurrentes derivados de la tarifa de tecnología (SaaS) representaron más del 94% del ingreso total, con un margen bruto del 76%. Biotricity sigue enfocándose en aumentar las ventas de dispositivos de monitoreo cardíaco remoto y servicios basados en suscripción, con el objetivo de alcanzar la rentabilidad y el equilibrio en el flujo de caja.
Biotricity Inc. (OTCQB:BTCY)는 2025 회계 연도 첫 분기 실적을 발표하며 마진 개선과 손실 감소를 지속적으로 보여주고 있습니다. 주요 하이라이트는 다음과 같습니다:
- 수익이 전년 대비 6% 증가하여 320만 달러에 달했습니다
- 총 마진이 지난해 63.5%에서 73.8%로 개선되었습니다
- 판매 및 관리비가 16% 감소하여 300만 달러에 달했습니다
- 운영 손실이 51.8% 감소하여 110만 달러에 달했습니다
- EBITDA와 조정 EBITDA가 전년 대비 각각 18.9%와 49.8% 개선되었습니다
회사의 반복적인 기술 요금(SaaS) 수익은 전체 수익의 94% 이상을 차지하며, 총 마진은 76%입니다. Biotricity는 원격 심장 모니터링 장치 및 구독 기반 서비스의 판매 증가에 집중하고 있으며, 수익성과 현금 흐름 균형을 목표로 하고 있습니다.
Biotricity Inc. (OTCQB:BTCY) a annoncé ses résultats du premier trimestre fiscal 2025, montrant une amélioration continue des marges et une réduction des pertes. Les éléments clés incluent :
- Le chiffre d'affaires a augmenté de 6% par rapport à l'année précédente, atteignant 3,2 millions de dollars
- Les marges brutes se sont améliorées pour atteindre 73,8%, contre 63,5% l'année dernière
- Les frais SG&A ont été réduits de 16% à 3 millions de dollars
- La perte d'exploitation a diminué de 51,8% pour s'établir à 1,1 million de dollars
- L'EBITDA et l'EBITDA ajusté ont respectivement augmenté de 18,9% et 49,8% par rapport à l'année précédente
Les revenus récurrents issus de la technologie (SaaS) de l'entreprise représentaient plus de 94% du chiffre d'affaires total, avec une marge brute de 76%. Biotricity continue de se concentrer sur l'augmentation des ventes de dispositifs de surveillance cardiaque à distance et de services basés sur l'abonnement, visant la rentabilité et l'équilibre de trésorerie.
Biotricity Inc. (OTCQB:BTCY) hat seine Ergebnisse für das erste Quartal des Geschäftsjahres 2025 veröffentlicht und dabei eine kontinuierliche Verbesserung der Margen sowie eine Reduzierung der Verluste gezeigt. Zu den wichtigsten Punkten gehören:
- Der Umsatz wuchs um 6% im Vergleich zum Vorjahr und erreichte 3,2 Millionen US-Dollar
- Die Bruttomargen verbesserten sich von 63,5% auf 73,8%
- Die SG&A-Ausgaben wurden um 16% auf 3 Millionen US-Dollar gesenkt
- Der Betriebsverlust verringerte sich um 51,8% auf 1,1 Millionen US-Dollar
- EBITDA und bereinigtes EBITDA verbesserten sich im Jahresvergleich um 18,9% bzw. 49,8%
Die wiederkehrenden Technologiefonds-Einnahmen (SaaS) des Unternehmens machten über 94% des Gesamtertrags mit einer Bruttomarge von 76% aus. Biotricity konzentriert sich weiterhin auf die Erhöhung der Verkaufszahlen von Remote-Herzmessgeräten und abonnementbasierten Dienstleistungen, mit dem Ziel der Rentabilität und des Cashflow-Break-even.
- Revenue growth of 6% year-over-year to $3.2 million
- Gross margins improved significantly to 73.8% from 63.5% in the same period last year
- SG&A reduced by 16% compared to the same period last year
- Operating loss decreased by 51.8% to $1.1 million, indicating efficiency gains
- EBITDA and Adjusted EBITDA improved by 18.9% and 49.8% year-over-year, respectively
- Recurring Technology Fee (SaaS) revenue accounted for over 94% of total revenue with a 76% gross margin
- Comprehensive loss reported at $6.9 million, including $3.2 million in one-time non-cash items
- Net loss of $3.7 million (excluding one-time items), consistent with prior year levels due to interest rate increases
The Company shows continued progress towards cash-flow break even and profitability
Recurring Technology Fee (SaaS) revenue - over
94% of total revenue with a76% gross margin, which rose over 400 basis points and is expected to continue to trend higherGross margins improved significantly to 73.8 from
63.5% in the same period last year, and59.6% 2 years earlierReduced SG&A to
$3 million , down16% compared to same period last yearOperating loss of
$1.1 million , indicated efficiency gains of$1.2 million from the preceding year quarter - a51.8% improvementGrowth in revenue of
6% YOY to$3.2 million EBITDA and Adjusted EBITDA improved by
18.9% and49.8% , respectively, from the corresponding period in the prior year;Quarter over preceding Quarter, EBITDA improved by
$1M , or36% , whereas Adjusted EBITDA improved by$1.5M or59% .Comprehensive loss was reported at
$6.9 million , due to one-time non-cash items of$3.2 million ; removing these would have resulted in a net loss of$3.7 million , consistent with prior year levels of$3.8 million due to interest rate increases that countered the impact of efficiency gains
REDWOOD CITY, CA / ACCESSWIRE / August 21, 2024 / Biotricity Inc. (OTCQB:BTCY) ("Biotricity" or the "Company"), a Technology-as-a-Service (TaaS) company operating in the remote cardiac monitor sector of consumer healthcare, today announced its financial results for the first quarter of fiscal 2025 year ended June 30, 2024.
Dr. Waqaas Al-Siddiq, Biotricity Founder & CEO, commented, "Our first quarter fiscal 2025 marked a strong start to the year. Despite the seasonally low summer months that can last into September, we saw impressive growth in our hospital sales pipeline, and future technology fees and device sales. We continued to achieve efficiencies from our prudent fiscal management aimed at bolstering our bottom line, and the effective use of our distribution channels. Given our consistently strong gross margins on technology fees of approximately
"EBITDA and Adjusted EBITDA improved by
Full details of the Company's financial results will be filed with the SEC on Form 10-Q and available by visiting www.sec.gov.
About Biotricity Inc.
Biotricity is reforming the healthcare market by bridging the gap in remote monitoring and chronic care management. Doctors and patients trust Biotricity's unparalleled standard for preventive & personal care, including diagnostic and post-diagnostic solutions for chronic conditions. The Company develops comprehensive remote health monitoring solutions for the medical and consumer markets. To learn more, visit www.biotricity.com.
Important Cautions Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words "may," "should," "would," "will," "could," "scheduled," "expect," "anticipate," "estimate," "believe," "intend," "seek," "project," or "goal" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements may include, without limitation, statements regarding (i) the plans, objectives and goals of management for future operations, including plans, objectives or goals relating to the design, development and commercialization of Bioflux or any of the Company's other proposed products or services, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance, (iv) the regulatory regime in which the Company operates or intends to operate and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain additional financing, the significant length of time and resources associated with the development of its products and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC. There cannot be any assurance that the Company will ever become profitable. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Contacts
Investor Relations
Biotricity Investor Relations
Investors@biotricity.com
SOURCE: Biotricity, Inc.
View the original press release on accesswire.com
FAQ
What was Biotricity's (BTCY) revenue growth in Q1 fiscal 2025?
How much did Biotricity's (BTCY) gross margins improve in Q1 fiscal 2025?
What percentage of Biotricity's (BTCY) total revenue came from recurring Technology Fee (SaaS) in Q1 fiscal 2025?
By how much did Biotricity (BTCY) reduce its operating loss in Q1 fiscal 2025?
